Dispatches from the 10th Crusade

Entries from What's Wrong with the World tagged with 'banking'

Richard W. Fisher is the President of the Dallas Federal Reserve Bank. He is also among the dissenters from the Federal Reserve’s Open Market Committee policy of loose money. He also grew up in Mexico City, where he returned this...

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This tale of Modern Inquisition needs to be read in full, so that at least we might understand whither we are tending as the slow dreary night falls on prosperity. Go ahead: read it. I have only the time for...

Well, friends, here is an arresting question: what is the focus of the sophisticated world as the summer begins to draw toward its close (here in the South, of course, the end of summer is at least eight weeks...

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Here is a brilliant post by Francis Cianfrocca on the continuing credit crisis. His analysis ranges widely, from Europe to America and back, while still effectively focusing on certain points of shared emphasis. One is that so much of world...

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I anticipate that we will see more and more court decisions like the one described here by Yves Smith. The mortgage industry, in connivance with bankers and financiers of all shapes and sizes, introduced into the political economy, by...

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Here’s a long essay that incisively examines the ruinous financial crisis in Ireland, which is above all a banking crisis. Unlike Greece, this is not a public sector problem. In Ireland, free enterprise excesses, extreme excesses rightly compared to the...

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I am strongly impressed by the argument, and the facts marshaled to defend the argument, of this Bloomberg column by Anat R. Admati of Stanford. Confusing language often obscures the discussion of capital regulation and makes it more difficult to...

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Well, the Federal Reserve has, under orders from Congress, released a huge mass of data on its extraordinary interventions into the financial sector during the height of the crisis, from 2007-2009. These documents make for interesting reading. In a word,...

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What if virtually every variety of debt security were still overvalued? What if, to put it another way, the aggregate demand for debt securities had fallen off dramatically and never returned to its pre-crisis state? What if virtually every...

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The periphery of Europe continues to exhibit the frightening features of ongoing financial crisis. There is a race between Ireland and Greece to gain the shameful distinction of the first eurozone country forced by circumstances to plead for relief...

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It can be a real challenge to penetrate the cloud of cant and catchphrase that envelopes the discussion of the financial crisis. How profoundly this disarray has shaken American institutions is still far from evident to the great majority of...

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I’m starting to have flashbacks to last September. It’s not a pleasant feeling. The banking sector is clearly still in dire straights. Financial stocks have plotted an almost unbroken decline since the first of the year. Citigroup announced this week...